Latest news release from I/Net:
From the 3/2 Kalamazoo Gazette
By Lynn Turner
I/Net Inc. is to soon formally announce a new Internet-based program that will allow customers to move offshore financial assets anywhere in the world, company officials announced.
Potentially, the system could be used to buy and sell stocks, annuities, bullion, almost anything, they said.
Company founder James Knapp has been working on the project- based in the Cayman Islands- for the past two years.
While the program will use the Internet as a base, users would have to become part of the "Extranet" service I/Net intends to provide from a new Web server., Knapp said.
"It's an Internet-based secure communications system," he said. "It's one of the strongest encryption programs in the world. It's a private communications system."
Because key codes change every few seconds, Knapp said he is confident it will keep computer hackers at bay.
One of the reasons the system was developed in the Cayman Islands is because of U.s. rules against strong encryption systems, he said.
"There's $1.7 trillion there on deposit,"Knapp said. "Caymen is just another off-shore haven. There's 600 banks on the island."
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